Spanish and European champions Barcelona have completed the signing of Arsenal captain and midfielder Cesc Fabregas with a £36 million ($57 million) deal.

Both the clubs are yet to make the reports public but a Spanish newspaper has said that the Spaniard has agreed Barca’s terms on a five-year deal which will run until the summer of 2016.

“Done. Cesc will travel to Madrid with the side. Good luck to him. For Arsenal a new era starts,” Guillem Balague, Spanish football expert, wrote in his twitter account.

Fabregas, however, was expected to join his new Barca team mates ahead of the first leg game of the Spanish Supercup final against Real Madrid on Sunday, but was asked by Pep Guardiola to remain in London till Sunday as his movements were overshadowing Barcelona’s preparations for the game.

Barcelona players Gerard Pique and Carles Puyol showed their delight about Fabregas’ return to Barcelona after a three-year long pursuit.

“@cesc4official. Ja el tenim aquí!!” wrote defender Gerard Pique in his Twitter account, which means “He is finally here.”

“Nanuuuuu!!!benvingut a casa!!! Feliç de tenir-te aquí. @cesc4official ooohhhh moc moc,” Puyol tweeted, meaning “Welcome home!!! Happy to have you here."

The Guardian reported that the news of Fabregas’ arrival will be made public by Barcelona on Monday and could make his debut for the club in the second leg of the Spanish Supercup.

Guillem Balague, later in a tweet, warned both Barcelona club and its supporters that any kind of premature celebrations regarding the move could hurt Arsenal’s board and its supporters.

“Interesting: Arsenal hanging on for a deal. Im afraid the cellebrations from Barcelona were premature and that must have hurt Arsenal board,” Balague wrote.

Arsenal boss Arsene Wenger is now expected to turn to the transfer market and look for Fabregas’ replacement, according to a Diario Sport report.

Arsenal’s Russian playmaker Andrey Arshavin previously believed that the loss of both Fabregas and Nasri would come as a massive setback for the Gunners.

"The loss of any one of them would be enormous, and we naturally want to see Cesc and Samir play with us in the future - but if the player wants to leave the club there is little you can do to stop them,” Arshavin told Russian newspaper Sport Express. “It is hard to say whether they will stay.”

Wenger will be under massive pressure if the season doesn’t start smoothly for the Gunners and the team fails to win any silverware.

Fabregas has appeared in 212 games for Arsenal and has managed to find the back of the net 35 times, and is the youngest goal scorer in Arsenal's history in a later round of the League Cup, scoring in a 5–1 victory against Wolverhampton Wanderers.